Bitcoin has rebounded nearly $3,000 after falling below $90,000!
📉 Bitcoin is on a rocket! It just fell below $90,000 and immediately bounced back nearly $3,000, now stuck at $91,125. Is this the rhythm to push for a new high?
First, let's look at the candlestick chart. The 30-day moving average at $92,387 is a significant resistance, and the $93,000-$95,000 range is a tough nut to crack (Figure 1). The $93,000-$95,000 range is a densely packed area from the previous holdings.
However, the Fear and Greed Index is only at 29, still hovering in the fear zone 😱. Although the ETF saw a net inflow of over $200 million ($223.5 million) in a single day, there is a big divergence among institutions; some are bullish while others fear a pullback.
From a technical perspective, as long as it holds above $92,387, breaking through $95,000 is not a dream! Conversely, if it falls below $90,000, a pullback might be on the way.
Let's discuss your views in the comments～
